Source documents to support transactions

Any business transaction is recorded on a source document, i.e. purchase order, sales order, invoice, credit note

Types of sources documents

Features of invoice

Invoices are numbered to keep track of sent invoices

Invoice usually includes the following information:

  • Name, address of seller and purchaser

  • Date of sale

  • Description of sale (goods or services)

  • Quantity and unit price of what has been sold

  • Details discount if it is provided

  • Total amount of invoice plus sales tax if applicable

  • Other (date of payment, terms of sale)

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